It is often the determining factor for legal implications on the business operations. To determine whether a game comprises a game of skill or a game of chance has wide consequences for any industry player. Legality of online gaming business in IndiaĮvery industry needs a robust regulatory and legal environment, devoid of uncertainties to achieve its true potential and ensure that the business is able to scale quickly. The market size and projected growth indeed point to this trend. The likelihood of the youth being tech savvy (as compared to older sections of population) and thus, embracement of online gaming augurs well for the growth of the industry in India in the time to come. Digitizing the gaming industry has led to tapping into an otherwise unorganised sector and brought more accountability. Therefore, the domestic industry has the potential to scale quickly and become a meaningful contributor. On similar lines, the domestic market for online gaming is estimated to grow from US$906 million in 2019 to over US$2 billion in 2023 representing a CAGR of 22% approx. The market size and estimated growth numbers hint a steady growth trend wherein global online gaming revenue is estimated to grow from US$38 billion (approx.) in 2019 to US$122 billion (approx.) by 2025. COVID-19 and the resultant social distancing norms have further forced the masses to explore alternative means of recreation and social engagement and in turn, aided the growth of online gaming. Within it, online gaming provides avenues for an on-demand, real-time gameplay without the limitations of a physical venue and time zones. Sports and gaming have been a traditional source of rejoice, recreation and engagement for players and spectators alike. The regressive taxation of the online gaming sector may result in making the business unsustainable in India.
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